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Allowance For Credit Losses (Tables) | 6 Months Ended
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Jun. 30, 2022
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery [Abstract] |
Schedule of High Risk Industries Additional Reserves | A breakout of the 4-rated balances within these portfolios and the additional reserve related to these portfolios is detailed in the following table:
| June 30, 2022 |  | December 31, 2021
(in thousands) | 4-Rated Balance |  | Additional Reserve |  | 4-Rated Balance |  | Additional Reserve
Hotels and accommodations | $ | 152,081 |  |  | $ | 1,145 |  |  | $ | 148,018 |  |  | $ | 2,226 |
Restaurants and food service | 45,797 |  |  | 517 |  |  | 40,648 |  |  | 917 |
Strip shopping centers | 172,893 |  |  | 954 |  |  | 184,171 |  |  | 2,033 |
Total | $ | 370,771 |  |  | $ | 2,616 |  |  | $ | 372,837 |  |  | $ | 5,176 |
Additionally, at June 30, 2022, management applied a 0.75% reserve to all hotels and accommodations loans in the collectively evaluated population to account for increased valuation risk. This 0.75% reserve was reduced from 1.00% at December 31, 2021. At June 30, 2022, Park's originated hotels and accommodation loans had a balance of $199.0 million with an additional reserve related to valuation risks of $1.5 million. At December 31, 2021, Park's originated hotels and accommodation loans had a balance of $203.9 million with an additional reserve related to valuation risks of $2.0 million.
Activity In The Allowance For Loan Losses | The activity in the ACL for the three-month and six-month periods ended June 30, 2022 and June 30, 2021 is summarized in the following tables:
| Three Months Ended June 30, 2022
(In thousands) | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 13,288 |  |  | $ | 23,731 |  |  | $ | 4,230 |  |  | $ | 11,584 |  |  | $ | 25,797 |  |  | $ | 231 |  |  | $ | 78,861 |
Charge-offs | 723 |  |  | 598 |  |  | 33 |  |  | 46 |  |  | 1,002 |  |  | — |  |  | 2,402 |
Recoveries | 316 |  |  | 540 |  |  | 29 |  |  | 54 |  |  | 1,058 |  |  | 1 |  |  | 1,998 |
Net charge-offs/(recoveries) | $ | 407 |  |  | $ | 58 |  |  | $ | 4 |  |  | $ | (8) |  |  | $ | (56) |  |  | $ | (1) |  |  | $ | 404 |
(Recovery of) provision for credit losses | (134) |  |  | (1,334) |  |  | 165 |  |  | 2,027 |  |  | 2,296 |  |  | (29) |  |  | 2,991 |
Ending balance | $ | 12,747 |  |  | $ | 22,339 |  |  | $ | 4,391 |  |  | $ | 13,619 |  |  | $ | 28,149 |  |  | $ | 203 |  |  | $ | 81,448 |
| Three Months Ended June 30, 2021
(In thousands) | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 16,279 |  |  | $ | 24,487 |  |  | $ | 5,813 |  |  | $ | 14,037 |  |  | $ | 25,729 |  |  | $ | 541 |  |  | $ | 86,886 |
Charge-offs | 308 |  |  | — |  |  | — |  |  | 26 |  |  | 736 |  |  | — |  |  | 1,070 |
Recoveries | 232 |  |  | 210 |  |  | 229 |  |  | 68 |  |  | 1,062 |  |  | — |  |  | 1,801 |
Net charge-offs/(recoveries) | $ | 76 |  |  | $ | (210) |  |  | $ | (229) |  |  | $ | (42) |  |  | $ | (326) |  |  | $ | — |  |  | $ | (731) |
(Recovery of) provision for credit losses | (981) |  |  | (1,948) |  |  | (372) |  |  | (966) |  |  | 206 |  |  | 21 |  |  | (4,040) |
Ending balance | $ | 15,222 |  |  | $ | 22,749 |  |  | $ | 5,670 |  |  | $ | 13,113 |  |  | $ | 26,261 |  |  | $ | 562 |  |  | $ | 83,577 |
| Six Months Ended June 30, 2022
(In thousands) | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 14,025 |  |  | $ | 25,466 |  |  | $ | 5,758 |  |  | $ | 11,424 |  |  | $ | 26,286 |  |  | $ | 238 |  |  | $ | 83,197 |
Charge-offs | 913 |  |  | 598 |  |  | 33 |  |  | 81 |  |  | 2,118 |  |  | 6 |  |  | 3,749 |
Recoveries | 434 |  |  | 588 |  |  | 530 |  |  | 86 |  |  | 1,975 |  |  | 1 |  |  | 3,614 |
Net charge-offs/(recoveries) | $ | 479 |  |  | $ | 10 |  |  | $ | (497) |  |  | $ | (5) |  |  | $ | 143 |  |  | $ | 5 |  |  | $ | 135 |
(Recovery of) provision for credit losses | (799) |  |  | (3,117) |  |  | (1,864) |  |  | 2,190 |  |  | 2,006 |  |  | (30) |  |  | (1,614) |
Ending balance | $ | 12,747 |  |  | $ | 22,339 |  |  | $ | 4,391 |  |  | $ | 13,619 |  |  | $ | 28,149 |  |  | $ | 203 |  |  | $ | 81,448 |
| Six Months Ended June 30, 2021
(In thousands) | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance, prior to adoption of ASC 326 | $ | 25,608 |  |  | $ | 23,480 |  |  | $ | 7,288 |  |  | $ | 11,363 |  |  | $ | 17,418 |  |  | $ | 518 |  |  | $ | 85,675 |
Impact of adopting ASC 326 | (8,257) |  |  | 2,119 |  |  | (1,898) |  |  | 3,121 |  |  | 10,925 |  |  | 80 |  |  | 6,090 |
Charge-offs | 454 |  |  | — |  |  | — |  |  | 37 |  |  | 2,280 |  |  | — |  |  | 2,771 |
Recoveries | 355 |  |  | 296 |  |  | 481 |  |  | 130 |  |  | 2,216 |  |  | — |  |  | 3,478 |
Net charge-offs/(recoveries) | $ | 99 |  |  | $ | (296) |  |  | $ | (481) |  |  | $ | (93) |  |  | $ | 64 |  |  | $ | — |  |  | $ | (707) |
Recovery of credit losses | (2,030) |  |  | (3,146) |  |  | (201) |  |  | (1,464) |  |  | (2,018) |  |  | (36) |  |  | (8,895) |
Ending balance | $ | 15,222 |  |  | $ | 22,749 |  |  | $ | 5,670 |  |  | $ | 13,113 |  |  | $ | 26,261 |  |  | $ | 562 |  |  | $ | 83,577 |
Composition Of The Allowance For Loan Losses | The composition of the ACL at June 30, 2022 and December 31, 2021 was as follows:
| June 30, 2022
(In thousands) | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |
Ending allowance balance attributed to loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 703 |  | $ | 1,160 |  | $ | — |  | $ | — |  | $ | — |  | $ | 11 |  | $ | 1,874
Collectively evaluated for impairment | 12,044 |  | 21,179 |  | 4,391 |  | 13,619 |  | 28,149 |  | 192 |  | 79,574
Acquired with deteriorated credit quality | — |  | — |  | — |  | — |  | — |  | — |  | —
Total ending allowance balance | $ | 12,747 |  | $ | 22,339 |  | $ | 4,391 |  | $ | 13,619 |  | $ | 28,149 |  | $ | 203 |  | $ | 81,448
Loan balance: |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment | $ | 11,916 |  | $ | 27,109 |  | $ | 459 |  | $ | 2,105 |  | $ | — |  | $ | 934 |  | $ | 42,523
Loans collectively evaluated for impairment | 1,304,304 |  | 1,729,434 |  | 320,264 |  | 1,728,457 |  | 1,809,086 |  | 18,683 |  | 6,910,228
Loans acquired with deteriorated credit quality | 138 |  | 4,324 |  | 676 |  | 796 |  | — |  | — |  | 5,934
Total ending loan balance | $ | 1,316,358 |  | $ | 1,760,867 |  | $ | 321,399 |  | $ | 1,731,358 |  | $ | 1,809,086 |  | $ | 19,617 |  | $ | 6,958,685
ACL as a percentage of loan balance: |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment | 5.90 | % |  | 4.28 | % |  | — | % |  | — | % |  | — | % |  | 1.18 | % |  | 4.41 | %
Loans collectively evaluated for impairment | 0.92 | % |  | 1.22 | % |  | 1.37 | % |  | 0.79 | % |  | 1.56 | % |  | 1.03 | % |  | 1.15 | %
Loans acquired with deteriorated credit quality | — | % |  | — | % |  | — | % |  | — | % |  | — | % |  | — | % |  | — | %
Total | 0.97 | % |  | 1.27 | % |  | 1.37 | % |  | 0.79 | % |  | 1.56 | % |  | 1.03 | % |  | 1.17 | %
|  | December 31, 2021
(In thousands) |  | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending allowance balance attributed to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 1,385 |  | $ | 188 |  | $ | — |  | $ | — |  | $ | — |  | $ | 43 |  | $ | 1,616
Collectively evaluated for impairment |  | 12,640 |  | 25,278 |  | 5,758 |  | 11,424 |  | 26,286 |  | 195 |  | 81,581
Acquired with deteriorated credit quality |  | — |  | — |  | — |  | — |  | — |  | — |  | —
Total ending allowance balance |  | $ | 14,025 |  | $ | 25,466 |  | $ | 5,758 |  | $ | 11,424 |  | $ | 26,286 |  | $ | 238 |  | $ | 83,197
Loan balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | $ | 22,666 |  | $ | 47,820 |  | $ | 222 |  | $ | 2,606 |  | $ | — |  | $ | 1,188 |  | $ | 74,502
Loans collectively evaluated for impairment |  | 1,275,783 |  | 1,748,854 |  | 320,608 |  | 1,735,226 |  | 1,689,679 |  | 19,321 |  | 6,789,471
Loans acquired with deteriorated credit quality |  | 177 |  | 5,118 |  | 956 |  | 875 |  | — |  | 23 |  | 7,149
Total ending loan balance |  | $ | 1,298,626 |  | $ | 1,801,792 |  | $ | 321,786 |  | $ | 1,738,707 |  | $ | 1,689,679 |  | $ | 20,532 |  | $ | 6,871,122
ACL as a percentage of loan balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | 6.11 | % |  | 0.39 | % |  | — | % |  | — | % |  | — | % |  | 3.62 | % |  | 2.17 | %
Loans collectively evaluated for impairment |  | 0.99 | % |  | 1.45 | % |  | 1.80 | % |  | 0.66 | % |  | 1.56 | % |  | 1.01 | % |  | 1.20 | %
Loans acquired with deteriorated credit quality |  | — | % |  | — | % |  | — | % |  | — | % |  | — | % |  | — | % |  | — | %
Total |  | 1.08 | % |  | 1.41 | % |  | 1.79 | % |  | 0.66 | % |  | 1.56 | % |  | 1.16 | % |  | 1.21 | %

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